Cato Corporation (The) Same-Store Sales Down 7% in October, Stock Climbs by 2.2% (NYSE:CATO)

Cato Corporation (The)’s (NYSE:CATO) same-store sales decreased by 7% during the month of October. Cato Corporation (The)’s stock climbed by 2.2% in the first day of trading following the news.

A number of analysts have weighed in on CATO shares. BidaskClub cut Cato Corporation (The) from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 5th. TheStreet cut Cato Corporation (The) from a “c” rating to a “d+” rating in a research note on Thursday, August 17th.

In other news, Director Daniel Harding Stowe bought 7,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were acquired at an average price of $14.27 per share, for a total transaction of $99,890.00. Following the completion of the transaction, the director now owns 16,686 shares of the company’s stock, valued at $238,109.22. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.58% of the stock is currently owned by insiders.

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Shares of Cato Corporation (CATO) opened at $13.52 on Friday. Cato Corporation has a 52-week low of $12.20 and a 52-week high of $36.64. The company has a market capitalization of $335.27, a PE ratio of 20.59 and a beta of 1.12.

Cato Corporation (The) (NYSE:CATO) last posted its earnings results on Thursday, August 17th. The specialty retailer reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.14). Cato Corporation (The) had a return on equity of 4.37% and a net margin of 1.92%. The firm had revenue of $207.00 million for the quarter, compared to analyst estimates of $209.50 million. During the same quarter last year, the firm posted $0.57 EPS. The firm’s revenue for the quarter was down 13.4% on a year-over-year basis.

Institutional investors and hedge funds have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan increased its position in shares of Cato Corporation (The) by 21.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 10,010 shares of the specialty retailer’s stock worth $176,000 after purchasing an additional 1,770 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in Cato Corporation (The) in the 2nd quarter valued at about $339,000. Nationwide Fund Advisors increased its position in Cato Corporation (The) by 20.1% in the 2nd quarter. Nationwide Fund Advisors now owns 21,618 shares of the specialty retailer’s stock valued at $380,000 after acquiring an additional 3,616 shares during the period. Aperio Group LLC acquired a new position in Cato Corporation (The) in the 3rd quarter valued at about $450,000. Finally, Airain ltd increased its position in Cato Corporation (The) by 15.3% in the 2nd quarter. Airain ltd now owns 31,598 shares of the specialty retailer’s stock valued at $556,000 after acquiring an additional 4,199 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Cato Corporation (The) Company Profile

The Cato Corporation is a fashion specialty retailer. The Company’s merchandise lines include dressy, career, and casual sportswear, dresses, coats, shoes, lingerie, costume jewelry, handbags, men’s wear and lines for kids and newborns. The Company has two segments: the operation of a fashion specialty stores segment (Retail Segment) and a credit card segment (Credit Segment).

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